George Soros

Soros builds stake in Swiss fund manager

George Storos
AFP

Shares in crisis-hit Swiss asset manager GAM are up 7% after the news that the SFM UK Management fund linked to investor George Soros has built a 3% stake in it.

Shares in the firm have plunged over 70% over the past year after a whistleblowing scandal which led to the departure of its chief executive and star bond trader.